CUES’s First Line of Defense, an online learning offering with in-person elements available, aims to teach credit union employees about real-world fraud schemes on a quarterly basis.
A trade group dedicated to credit union leadership is taking steps to keep its members on their toes on the job. CUES, also known as the Credit Union Executives Society, announced a new online training tool to help its members improve their ability to detect and prevent fraud.
The tool, called First Line of Defense, presents 10 to 12 training scenarios each quarter—all based on real-life fraud attempts reported by the FBI and the Office of the Comptroller. CUES worked with the vendor TRC Interactive to develop the tool.
“In each scenario, the learner virtually meets and interacts with a member who is requesting a transaction,” explained TRC Interactive Chief Financial Officer Jay H. Bowden in a news release. “They can request the same documents they would see in real life, and all are customized to show your credit union’s routing number and MCIS. What’s more, checks, driver’s licenses, state IDs, and other documents will be from your state or surrounding states.”
The learner then makes a decision whether to process the requested transaction or deny it, and if they deny it, they must provide a reason. The tool then tells whether the answer was right or wrong and why.
When the training sessions are completed, the tool generates a report that shows how much money the learner’s actions would cost or save their credit union. “The report is a great way to keep track of your ROI. And credit unions can have as many staff members go through the scenarios as they’d like, making it even more cost-effective,” said CUES Products and Services Manager Laura Lynch.
A subscription to the program comes with a number of supplemental features to extend the lessons beyond online, including additional reading and an in-person training option. The offering can scale up based on the number of branches in a credit union at a single annual cost.